Blumar reported full-year 2025 revenues of $712.8 million, a 15 percent increase year-on-year, while net profit remained broadly stable at $18.1 million.
Pre-fair-value EBITDA declined 7 percent to $79.7 million, reflecting lower salmon prices and higher operational costs during the year.
The company said its aquaculture segment recovered in volume terms compared with 2024, when production was disrupted by harmful algal blooms. However, the average salmon price fell 5 percent year-on-year, influenced by increased global Atlantic salmon supply and U.S. tariffs introduced in April 2025.
Fourth-quarter performance weakened. Revenue for the period fell 19 percent year-on-year to $144.1 million, while pre-fair-value EBITDA turned negative at -$2.5 million.
Blumar said lower sales volumes, rising health-related costs and weaker salmon prices weighed on the aquaculture segment during the quarter. Ex-cage costs increased, particularly in the Aysén Region, where sanitary conditions were described as challenging. Operations in Magallanes Region performed comparatively better.
In the company’s fishing division, revenues were broadly stable compared with 2024, although market conditions were weaker. Fish oil prices declined from elevated levels seen in 2024, fishmeal prices fell, and frozen jack mackerel prices remained flat.
Blumar said part of its fourth-quarter fishing production remained in inventory at year-end, with sales expected to be realised during the first half of 2026.
Chief executive Gerardo BalbontÃn said the company had made progress stabilising operations after a difficult 2024, but noted that price and cost pressures intensified toward the end of 2025.
Blumar expects operating conditions to remain challenging in early 2026 and said it will focus on improving productive efficiency, cost control and operational performance.